What do I need to sign legal documents in Mexico?
Buyers may sign legal documents with a Tourist Visa and a Valid U.S. Passport.
Sellers must have a valid Temporary or Permanent Residency to sign documents when selling your property. A current electric bill along with your Mexican Tax ID number added to your Electric bill is what a Seller needs to qualify for a zero capital gains tax designation with the Notary.
How do I get and why do I need a Tourist Visa or Mexican Residency Card?
A Foreign person needs this document in order to sign legal documents before the Notary who requires a copy for his file a part of the Bank Trust Deed and he requires to see the original & compare the original to the copy. You will need this at the Closing.
The first step in processing your Residency Card, is to make an appointment with the Mexican Consulate in your area, request that you would like to process your Permanent Residency Card, it will depend on your documentation that you give to the consulate, whether they authorize to you a Temporary (good for 1 year, and after you have to renew your status again) or Permanent Residency ( you do not need to renew your card). They will give you a list of what you need when you make your appointment such as: The Last 6 months Bank Statements and Utility Bills (possibly).
When you have been approved for the Mexican Residency they will stamp a Mexican VISA in your US Passport Book.
After you have the first step covered, you have 6 months to start the process of your residency card in the Immigration Office in Mexico.
When you do decide to have this process done and you have the Mexican Visa stamped in your passport book, when you cross into Mexico, you will have to stop at the INM office in Tijuana and get a Tourist Visa, only good for 30 days ( Please make sure they give it to you for 30 Days), and at this moment you only have 30 days to complete the process for your residency card. (It’s only a one-time pass).
Take in consideration it takes approx. 7 Business Days or more depending on the work that INM office has, for the approval. Also, you could possibly have to go physically to the INM Office in Rosarito 2-3 Times.
- INM Officer needs to see you and make sure all the forms are correctly filled out.
- If there is an error or any additional information that needs to be added on the forms, you have to re-print and sign them again. So, this could be possibly the Second time going back to the INM office.
- After the paper work has been reviewed and received, approx. after 7 Business days you should receive a Notification through email that you have been approved and you can have your fingerprints done and bring in special photos that are required. Finally, you have to wait between 3-4 weeks to pick up your card.
Who needs a residency card?
- Foreigners that reside in Mexico for more than six months.
- Foreigners that own Mexico property throughout a Mexican Bank Trust.
- Foreigners that want to be protected in case of legal issues while in Mexico.
- Foreigners that want to have a Mexican Driver License.
- Foreigners that want to have a U.S. vehicle in Mexico.
- Foreigners that want to have a Mexican Bank Account.
- Foreigners that want to bring their household in to Mexico Duty Free.
- Foreigners that want to sell or lease their property in Mexico.